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What was the total partnership income

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Question - MM and NN are partners who share profits and losses in the ratio of 60%: 40%, respectively. MM's salary is P50,000 and P30,000 for NN. The partners are also paid interest to MM P15,000 and NN, P12,000. The profit and loss allocation is determined after deductions for the salary and interest payments. If NN's share in the residual income (income after deducting salaries and interest) was P44,000 in 2021, what was the total partnership income?

Reference no: EM133111589

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